REG - Hamak Gold Limited - Subscription & Placing to raise £295,750
22/12/2022 09:30
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RNS Number : 6164K Hamak Gold Limited 22 December 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY IN OR INTO AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA,
THE UNITED STATES, ANY TERRITORY OR POSSESSION THEREOF OR ANY OTHER
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS
OF SUCH JURISDICTION.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC LAW IN THE UNITED KINGDOM OF
GREAT BRITAIN AND NORTHERN IRELAND ("UK") PURSUANT TO THE MARKET ABUSE
(AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). IN ADDITION,
MARKET SOUNDINGS (AS DEFINED IN UK MAR) WERE TAKEN IN RESPECT OF CERTAIN OF
THE MATTERS CONTAINED WITHIN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN
PERSONS BECAME AWARE OF INSIDE INFORMATION (AS DEFINED UNDER UK MAR).
UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION
SERVICE, THOSE PERSONS THAT RECEIVED INSIDE INFORMATION (AS DEFINED IN UK MAR)
IN A MARKET SOUNDING ARE NO LONGER IN POSSESSION OF SUCH INSIDE INFORMATION,
WHICH IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
22 December 2022
Hamak Gold Limited
("Hamak Gold" or the "Company")
Subscription and Placing for new shares to raise £295,750
Issue of shares in lieu of drilling contract fees
Total Voting Rights
Subscription for new Shares
Hamak Gold Limited (LSE: HAMA) is pleased to announce that it has raised gross
proceeds of £295,750 (before expenses), from Directors, existing shareholders
and new investors (the "Subscription") for 3,380,000 new ordinary shares of no
par value ("Ordinary Shares") at a price of 8.75 pence each (the "Subscription
Price") (the "Subscription Shares"), which is a discount of 5.4% to the
closing price of 9.25 pence per Ordinary Share traded on the main market for
listed securities (the "Main Market") of London Stock Exchange plc (the "LSE")
on 20 December 2022. The Company has utilised existing shareholder authorities
for the subscription.
The Subsciption is conditional only on admission of the Subscription Shares to
listing on standard segment of the Official List ("Standard Listing") of the
Financial Conduct Authority (the "FCA") and to trading on the Main Market of
the LSE ("Admission").
Use of Net Proceeds
The Company intends to use the net proceeds of the Subscription to fund
ongoing exploration in Liberia and in particular at its Nimba licence, where
an initial drilling programme has intersected near surface gold mineralization
of 20m @ 7g/t Au including 5m @ 22g/t Au that is associated with a mineralized
and outcropping metadolerite unit that returned rock chip sample grades of
37g/t Au and 45g/t Au and over which channel sampling identified a mineralized
zone over 55m in length, including a higher grade zone of 14m @ 2g/t Au. The
net proceeds will also be used for general working capital.
Issue of Shares in Lieu of Directors' Fees
The Company further announces that it has issued new ordinary shares to the
following Directors in respect of fees earned for the most recent quarter
since admission to the London Stock Exchange on 1 March 2022.
The above fees are in line with the 2,520,000 Fee Shares arrangement that is
set out in the Company's Prospectus, and are based on a price of 10 pence per
share.
Name No. of Shares
Amara Kamara 145,000
Karl Smithson 125,000
Julius Baiden 50,000
Niall Young 50,000
Walter McCarthy 50,000
Martin Lampshire 45,472
Total 465,472
Issue of Shares in Lieu of Drilling Contract Fees
The Company further announces that it has issued 781,250 new ordinary shares
to a director of Cestos Drilling in lieu of the recently completed 450m
drilling programme at Nimba, as announced on 13 November 2022, issued at a
price of 10 pence per share.
All the newly issued Subscription Shares, Director Fee Shares and Drilling Fee
Shares are expected to be admitted to trading on the 4 January 2022. Following
Admission the enlarged share capital of the Company will be 44,330,666 shares.
The Subscription Shares, Director Fee Shares and Drilling Fee Shares when
issued, will be credited as fully paid and rank pari passu in all respects
with the existing Ordinary Shares of the Company.
Admission and Total Voting Rights
The Company has made applications to the FCA and the LSE to have 4,626,722
shares admitted to the Standard Listing and to trading on the Main Market with
Admission expected to occur on or around 4 January 2023.
On Admission, the Company's issued share capital will comprise 44,330,666
Ordinary Shares, with each Ordinary Share carrying the right to one vote.
Accordingly, the total number of voting rights in the Company will be
44,330,666 and this figure may be used by shareholders as the denominator for
the calculations by which they will determine if they are required to notify
their interest in, or a change to their interest in, the Company under the
FCA's Disclosure Guidance and Transparency Rules.
For the purposes of UK MAR, the person responsible for arranging release of
this announcement on behalf of Hamak Gold is Karl Smithson, Executive
Director.
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name 1. Nicholas Karl Smithson
2. Samuel Julius Baiden
3. Kenneth Niall Young
4. Walter Seward McCarthy
5. Amara Kamara
6. Martin Lampshire
2 Reason for the notification
a) Position/status 1. Executive Director
2. Non-Executive Director
3. Non-Executive Director
4. Non-Executive Director
5. Chairman
6. Non-Executive Director
b) Initial notification /Amendment Amendment
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Hamak Gold Limited
b) LEI 213800NL4ICLKYSYU749
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary Shares of no par value each
Identification code
ISIN: VGG4256S1048
b) Nature of the transaction Issue of Fee Shares (as applicable)
c) Price(s) and volume(s) Price(s) Volume(s)
1. N/A 1. 125,000
2. N/A 2. 50,000
3. N/A 3. 50,000
4. N/A 4. 50,000
5. N/A 5. 145,000
6. N/A 6. 45,472
d) Aggregated information 465,472
Price N/A
e) Date of the transaction 21.12.2022
f) Place of the transaction Outside a trading venue
4. (cont,) Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary Shares of no par value each
Identification code
ISIN: VGG4256S1048
b) Nature of the transaction Issue of Placing Shares (as applicable)
c) Price(s) and volume(s) Price(s) Volume(s)
Martin Lampshire 8.75 pence 470,999
d) Aggregated information 470,999
Price £41,212.41
e) Date of the transaction 21.12.2022
f) Place of the transaction Outside a trading venue
1. Details of the person discharging managerial responsibilities / person closely
associated
a) Name Sara Jane Smithson
2 Reason for the notification
a) Position/status Person closely associated with (i.e., spouse of) Nicholas Karl Smithson
b) Initial notification /Amendment Amendment
3 Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name Hamak Gold Limited
b) LEI 213800NL4ICLKYSYU749
4 Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument Ordinary Shares of no par value each
Identification code
ISIN: VGG4256S1048
b) Nature of the transaction Issue of Placing Shares (as applicable)
c) Price(s) and volume(s) Price(s) Volume(s)
8.75 pence 294,286
d) Aggregated information 294,286 Placing Shares
Price
£25,750.03
e) Date of the transaction 21.12.2022
f) Place of the transaction Outside a trading venue
d)
Aggregated information
Price
465,472
N/A
e)
Date of the transaction
21.12.2022
f)
Place of the transaction
Outside a trading venue
4. (cont,)
Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary Shares of no par value each
ISIN: VGG4256S1048
b)
Nature of the transaction
Issue of Placing Shares (as applicable)
c)
Price(s) and volume(s)
Price(s) Volume(s)
Martin Lampshire 8.75 pence 470,999
d)
Aggregated information
Price
470,999
£41,212.41
e)
Date of the transaction
21.12.2022
f)
Place of the transaction
Outside a trading venue
1.
Details of the person discharging managerial responsibilities / person closely
associated
a)
Name
Sara Jane Smithson
2
Reason for the notification
a)
Position/status
Person closely associated with (i.e., spouse of) Nicholas Karl Smithson
b)
Initial notification /Amendment
Amendment
3
Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a)
Name
Hamak Gold Limited
b)
LEI
213800NL4ICLKYSYU749
4
Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a)
Description of the financial instrument, type of instrument
Identification code
Ordinary Shares of no par value each
ISIN: VGG4256S1048
b)
Nature of the transaction
Issue of Placing Shares (as applicable)
c)
Price(s) and volume(s)
Price(s) Volume(s)
8.75 pence 294,286
d)
Aggregated information
Price
294,286 Placing Shares
£25,750.03
e)
Date of the transaction
21.12.2022
f)
Place of the transaction
Outside a trading venue
- Ends -
For further information please contact:
Hamak Gold Limited
Amara Kamara +231 (0) 77 005 0005
Karl Smithson +44 (0) 77 837 07971
Peterhouse Capital Limited (Broker)
Lucy Williams +44 (0) 20 7469 0930
Guy Miller
Yellow Jersey PR
Tom Randell +44 (0) 7948 758 681
Annabelle Wills
About Hamak Gold Limited
Hamak Gold Limited (LSE: HAMA) is a UK listed company focussed on gold
exploration of a portfolio of licences in highly prospective areas of Liberia
and having a growth strategy that considers other exploration and development
opportunities in the wider West Africa region.
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